Medley Capital Corporation Announces Transfer of Listing from the New York Stock Exchange to the NASDAQ Global Market

Rhea-AI Summary

Medley Capital Corporation (NYSE: MCC) announced its transfer of shares and Notes listing from the NYSE to the NASDAQ, effective January 4, 2021. The Company will also change its name to PhenixFIN Corporation starting January 1, 2021, with new ticker symbols "PFX" for Common Stock and "PFXNL" for Notes. The transfer is part of the Company's strategy as an internally-managed investment firm under the Investment Company Act of 1940. Note that there is a risk the transition to NASDAQ may not occur as planned.

Positive

• Successful transfer of shares from NYSE to NASDAQ could enhance liquidity and visibility.
• Change of name to PhenixFIN Corporation may strengthen brand identity and market positioning.

Negative

• There is a risk that the anticipated NASDAQ listing may not happen on time or at all.

Medley Capital Corporation (NYSE: MCC) (the "Company", "we", "us" or "our") today announced that it has completed the application process and has been authorized to transfer the listing of its shares of common stock, par value $0.01 per share (the “Common Stock”), and its 6.125% Notes due 2023 (the “Notes”) from the New York Stock Exchange (the “NYSE”) to the NASDAQ Global Market (the “NASDAQ”). In addition, effective January 1, 2021, the name of the Company will be changed to PhenixFIN Corporation. The Company expects the Common Stock and the Notes to begin trading on the NASDAQ under the ticker symbols “PFX” and “PFXNL”, respectively, on January 4, 2021. Until that time, the Common Stock and the Notes will continue to trade on the NYSE.

ABOUT MEDLEY CAPITAL CORPORATION (to be named PhenixFIN Corporation)

Medley Capital Corporation is a closed-end, internally-managed investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS

Statements in this press release relating to the anticipated listing of the Common Stock and the Notes on the NASDAQ, and their delisting from the NYSE, at this time constitute “forward-looking statements.” There exists the risk that the Common Stock and the Notes may not begin trading on the NASDAQ on the date we anticipate or at all. The forward-looking statements speak only as of the time of this press release. The Company undertakes no obligation to publicly update or revise the forward-looking statements, except as may be required by law.

For media inquiries, please contact David Lorber at dlorber@phenixfc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005787/en/

FAQ

When will Medley Capital Corporation transition to NASDAQ?

Medley Capital Corporation will begin trading on the NASDAQ on January 4, 2021.

What is the new name for Medley Capital Corporation?

The new name for Medley Capital Corporation will be PhenixFIN Corporation, effective January 1, 2021.

What ticker symbols will Medley Capital Corporation and its Notes have on NASDAQ?

The Common Stock will be traded under the ticker symbol 'PFX' and the Notes under 'PFXNL'.

What is the risk associated with the NASDAQ listing?

There is a risk that the Common Stock and the Notes may not begin trading on the NASDAQ as anticipated.